This is an updated trade plan based on my last published trade setup (SPX500-Bear Setup)-posted yesterday. Just reading price structure and making some adjustments on where I think this correction might end. 3870 is going to be descent support and would complete a measured abc move from the local top. This would give us the correction we need to proceed to 4k+....nothing has changed with my longterm view on sp. We are still in a very strong uptrend and have key fib extensions at 3960 & 4k+. Please let me know if you have any questions but for now im leaning towards taking most of my profit @387 may lets some ride just depends. Thanks, and Happy Trading!
Trade closed manually
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Just did not get the follow through we needed. Makes sense now because we are completing a wave 4 triangle for 3960. There will be another opportunity to catch a good bear move at that level.e
Thanks fro the update :)
I respect you
I targeted long as soon as I saw the reversal pattern in the morning
wstchse
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@danta_master, absolutely, and thank you for the nice comment. If you ever want to get my thoughts before im able to update, shoot me a dm. I am involved in other business ventures so im not always at the computer and able to update but i am usually available and periodically through the day ill check my messages. Happy Trading! Lets make some good money on this one, should be a nice trade.
Sorry fellas but i know i took a haircut on this one. Just didnt get the bear follow through and now makes sense since we are breaking out of a continuation triangle.
I respect you
I targeted long as soon as I saw the reversal pattern in the morning